Renewable energy storage is considered one of the world’s fastest-growing markets at this time, and Tesla isn’t the only one joining in on the fun.
Canada’s largest electricity producer, Hydro-Quebec, shared Wednesday that it would be entering the energy storage market, directly competing against Tesla, according to Reuters.
The Quebec government’s crown corporation released its EVLO system, a subsidiary energy storage solution set to reduce emissions and drive demand using renewable sources like wind power.
With energy storage in the picture, however, the company will be able to store and maintain its renewable energy for on-demand use for homes, businesses, and utilities alike.
C'est aujourd'hui que nous lançons EVLO, notre toute nouvelle filiale qui commercialise des des systèmes de stockage d’énergie sécuritaires et écoperformants https://t.co/GvWU6pxXwt
— Hydro-Québec (@hydroquebec) December 9, 2020
Sophie Brochu, chief executive of Hydro-Quebec, said, “To support these intermittent energy sources around the world we need energy storage capacity.”
While EVLO’s current operation is solely focusing on North America and Europe at the moment, Brochu says further expansion is not out of the question.
Tesla will likely be a major competitor to Hydro-Quebec’s energy storage, with major batteries already being built around the world, levering its Powerpack commercial solution.
In any case, as the energy storage market continues to grow, it will only serve to benefit the average individual by both increasing our reliance as a society on renewable energies, and helping to drive prices down for electric goods and services.
